Monoova Teams With SuperAPI and Payroo to Tackle ‘Antiquated’ Payroll

Australian payments company Monoov has teamed with payroll firms Payroo and SuperAPI.

The partnership, announced Monday (July 7), is centered around a one-click payroll and superannuation solution, designed to update “antiquated payroll and superannuation industries” — the latter term referring to Australia’s pension system.

“With new wage theft laws in place which now classify underpayment of superannuation a criminal offence, the move aims to accelerate and simplify the introduction of these new compliance requirements that have been introduced by the Albanese Government to protect working Australians,” Monoova said in a news release.

In addition to rising operating costs, employers risk falling short of legal superannuation obligations because “legacy payroll providers and superannuation clearing houses” have not stayed on top of the latest demands of Payday Super, Australia’s pension law.

“Monoova and SuperAPI’s offering ensures the employee gets paid correctly the first time, every time, by pre-validating employee and member details, thereby fulfilling the PayDay Super requirements for every employer from July 1st 2026,” the release said.

Those requirements, according to a measure announced by Australia’s government in 2023, requires employers to pay workers superannuation at the same time as their salary and wages.

PYMNTS examined some of the payroll challenges facing companies — especially ones conducting cross-border business — last month in an interview with Eynat Guez, CEO and co-founder of Papaya Global.

“Traditional banking infrastructure often proves ill-equipped for real-time global transactions. In practice, this means people are sometimes left unpaid — or paid late — due to seemingly minor issues, like a missing apartment number in a Japanese bank field or a name that triggers a false positive on a sanctions list,” that report said.

Banks and last-mile recipients deal with a great deal of friction when it comes to receiving payments from overseas, Guez said. This is often down to compliance obstacles or outdated systems that weren’t designed for today’s workforce models. She was candid about the increasing gap between FinTech innovation and banking rigidity.

“When everything goes smoothly … it’s fine,” she said. “But … [the moment] you need [support,] the process becomes slow, the SLA is [unclear, and there’s no transparency into when — or if — issues will be resolved].”

“[Today, it’s becoming] a competition between the banked and the unbanked world,” she added. People can now receive money in multiple apps — even on Papaya — “and they don’t necessarily need [a traditional bank account].”